Law Updates

New Decision by MHUP Allows Companies to Own Residential Real Estate Units in Integrated Residential Compounds

Companies in Oman are permitted to own land and real estate in special situations as prescribed by Decision 45/2021 of the Ministry of Housing and Urban Planning. Under this decision, Omani and GCC-owned companies may own land and real estate by way of purchase if this is necessary for them to practise their licensed activity in regard to land and real estate designated for residential commercial, commercial, industrial, and touristic uses under the controls prescribed by Decision 45/2021. These rules were changed by Decision 102/2023 of MHUP published in today’s issue of the Official Gazette to allow companies to also purchase residential real estate units in integrated residential compounds.

This new decision enters into force tomorrow.

You can read MHUP’s new Decision 102/2023 and the old Decision 45/2021 in English in full on Decree.